| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 55th | Fair |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5150 Balboa Arms Dr, San Diego, CA, 92117, US |
| Region / Metro | San Diego |
| Year of Construction | 2000 |
| Units | 80 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5150 Balboa Arms Dr, San Diego Multifamily Thesis
Neighboring submarket fundamentals point to durable renter demand and above-national occupancy, according to WDSuite s CRE market data, with pricing power supported by a high-cost ownership landscape.
The immediate neighborhood rates A overall and is competitive among San Diego-Chula Vista-Carlsbad neighborhoods (rank 90 out of 621), with dense daily-needs coverage. Caf fs, pharmacies, childcare, and restaurants cluster at levels that place the area in the top decile nationally for amenity access, which supports leasing velocity and resident retention for workforce and professional tenants.
Rent dynamics signal depth of demand: neighborhood median contract rents sit in a high national percentile with strong five-year growth, while the neighborhood occupancy rate is above the national average but below the metro median (rank 354 of 621). For investors, that mix points to resilient absorption with some competitive pressure at the metro level, favoring well-positioned assets with effective operations.
Tenure patterns show a sizable renter base: an estimated 53% of housing units are renter-occupied, placing the neighborhood in the top quartile among 621 metro neighborhoods. This renter concentration expands the tenant pool for multifamily product and can support occupancy stability across cycles when paired with disciplined lease management.
Within a 3-mile radius, demographics reflect a large, diversified population with household counts roughly stable recently and projected to increase as average household size trends smaller. Rising median incomes in the 3-mile area, alongside a rent-to-income ratio near 0.26 locally, suggest manageable affordability pressure that can aid renewal rates over time. Elevated home values and value-to-income ratios at the neighborhood level indicate a high-cost ownership market, which typically sustains reliance on multifamily housing.
Build vintage skews slightly newer than the neighborhood average. With a 2000 construction year against a local average around the mid-1990s, the property should compete well versus older stock; investors should still plan for modernization of aging systems to preserve curb appeal and operating efficiency. School quality trends around the national midpoint, while park access is limited, which may tilt appeal toward convenience-driven renters prioritizing proximity to jobs and services.
Neighborhood safety benchmarks trail national averages, with overall crime levels ranking in lower national percentiles. Compared with other San Diego metro neighborhoods (621 total), the area is not among the top performers for safety, so underwriting should incorporate prudent security and loss-prevention assumptions.
Property offenses are elevated relative to national norms but have eased modestly year over year (about a 5% decline), indicating some recent improvement. Violent offense rates remain higher than national benchmarks. For investors, practical mitigants include lighting, access control, and resident engagement, along with insurance budgeting aligned to these conditions.
Proximity to defense, life sciences, energy, and telecommunications employers underpins commuter convenience and supports multifamily renter demand at this location. The following nearby employers anchor the local employment base referenced here.
- L-3 Telemetry & RF Products dash; defense & aerospace (2.8 miles)
- Celgene Corporation dash; biopharma (4.5 miles)
- Qualcomm dash; wireless/semiconductors (5.1 miles) dash; HQ
- Sempra Energy dash; utilities (7.3 miles) dash; HQ
- Sysco dash; food distribution (10.8 miles)
This 80-unit 2000-vintage asset benefits from a deep renter pool, high-density amenities, and an ownership market characterized by elevated home values that reinforce multifamily demand. Neighborhood occupancy trends run above national norms though below the metro median, suggesting steady absorption with competition concentrated among comparable assets; according to commercial real estate analysis from WDSuite, the neighborhood also sits in a high national percentile for net operating performance per unit, a positive backdrop for disciplined operators.
Renter-occupied housing accounts for a top-quartile share within the metro, indicating meaningful tenant depth. Within a 3-mile radius, income growth and a projected increase in households alongside smaller average household size point to a larger tenant base over the medium term. A rent-to-income profile near 0.26 supports renewal potential, while the property s slightly newer-than-average vintage should remain competitive with targeted modernization to sustain curb appeal and operating efficiency.
- Deep renter base and above-national occupancy support leasing stability
- High-cost ownership market reinforces multifamily demand and pricing power
- 2000 vintage competes well versus older stock with value-add modernization potential
- 3-mile incomes rising and household growth projected, expanding the tenant pool
- Risks: below-metro safety metrics and limited park access warrant proactive operations